ITT Q1 Preliminary Results: Flat Revenue, Eyes $1 Billion In Orders, $500 Million In New Buybacks & More

ITT Inc. (NYSE:ITT) shares traded lower premarket on Thursday. The company disclosed preliminary results for the first quarter and approved the share repurchase.

Outlook: The company expects orders of $1.0 billion, up 7% or 2% organically year over year (Y/Y), led by pump project and connectors’ awards.

ITT projects revenue of over $900 million vs. the consensus of $901.06 million, which is flat on a GAAP and organic basis in the quarter.

Revenue growth is expected to be ...